COPENHAGEN, Denmark and SHANGHAI, Aug. 20,
2024 /PRNewswire/ -- Adcendo ApS ("Adcendo") and
Multitude Therapeutics Inc. ("Multitude") jointly announced today
that they have signed a licensing agreement for the development of
a novel, highly differentiated antibody-drug conjugate (ADC)
targeting Tissue Factor (TF) with the development code ADCE-T02.
Under this agreement, Adcendo will obtain the exclusive development
and commercialization rights for the asset globally, except for the
Greater China region (Mainland
China, Hong Kong Special Administrative Region, Macao Special
Administrative Region, and Taiwan)
where Multitude will retain development and commercialization
rights.
According to the financial terms of the agreement, Multitude
would receive upfront and milestone payments upon achieving
development, regulatory, and commercial milestones totally over
$1 billion, as well as single-digit
to low double-digit tiered royalties on potential future product
sales.
TF is a clinically validated ADC target that is highly expressed
in indications such as non-small cell lung cancer, colorectal
cancer, cervical cancer, oesophageal cancer, head and neck cancer,
bladder cancer and certain gastrointestinal cancers, but its
expression is limited in normal tissues.
ADCE-T02 is a highly differentiated anti-TF ADC, and the first
ADC with a Topoisomerase I inhibitor-based linker/payload, to enter
into clinical development in Australia, US and Europe. Its unique antibody design minimizes
the impact on the coagulation pathway, while the T1000-exatecan
linker-payload technology platform has been shown to amplify the
bystander effect, improve linker stability, and has the potential
to overcome potential resistance mechanisms. These differentiated
features promise to translate into a superior therapeutic window, a
better safety profile, enhanced response rates and longer response
durations through reduced toxicity driven treatment terminations,
interruptions or dose reductions.
Clinical Trial Notification for ADCE-T02 has been submitted in
Australia, and an IND application
in the United States is planned in
the near future. The start of the Phase I study in Australia is expected in Q4 2024.
Michael Pehl, Chief Executive
Officer of Adcendo, stated: "We are highly impressed by
the deep science behind Multitude Therapeutics' linker/payload
platforms and are delighted about our licensing agreement on
ADCE-T02, which perfectly complements our existing unique
first-in-class ADC pipeline and allows Adcendo to become a
clinical-stage biotech company in Q4 2024. TF is an excellent ADC
target with ample opportunity in high unmet need indications, as
was recently reported at the annual ASCO congress. The highly
differentiated profile of ADCE-T02 will enable a full capture of
the potential of this target and will hopefully bring tangible
progress to cancer patients in need".
Dr. Xun Meng, Chief Executive
Officer of Multitude, stated: "We are
delighted to collaborate globally with Adcendo. The successful
cooperation demonstrates that the T1000-exatecan linker-payload
platform has played a significant role in multiple successful ADC
pipelines. We look forward to Adcendo's experienced global clinical
development team bringing ADCE-T02 to cancer patients in need as
soon as possible."
About Adcendo ApS: Adcendo ApS is developing breakthrough
antibody-drug conjugates for the treatment of underserved cancers.
In 2024, the company completed a Series A extension financing
round, increasing the total funds raised to 98M EUR to advance, broaden, and accelerate the
development of its first-in-class ADC pipeline assets. Investors
include Novo Holdings, Ysios Capital, Pontifax Venture Capital, RA
Capital Management, HealthCap, Gilde Healthcare and Dawn Biopharma,
a platform controlled by KKR. For further information, please visit
www.adcendo.com
About Multitude Therapeutics
Inc.: Multitude Therapeutics is a clinical-stage
company focused on the development of ADC drugs. Multitude
Therapeutics has two technology platforms: MabArray™— an antibody
platform for discovering novel cell surface tumor targets to
construct first-in-class targets, and T1000 — a new linker-payload
technology for developing ADCs, which allows ADCs prepared with
this platform to achieve a better balance of the bystander effect,
efficacy, and safety. The combination of MabArray™ and T1000
generates significant synergistic effects, enabling Multitude
Therapeutics to build an ADC "atlas" that is expected to treat
malignant tumors with high unmet medical needs and achieve higher
and more durable responses.
Based on the above technology platforms, Multitude Therapeutics
currently has several ADCs in development, including three
first-in-class target ADCs. Moreover, several ADCs, including
all-new target ADCs, have entered the clinical stage, where they
have demonstrated good safety and efficacy and provided preliminary
validation of the company's platform technology. For further
information, please visit
www.multitudetherapeutics.info
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SOURCE Adcendo